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Paxos International has launched its yield-generating stablecoin, Lift Dollar (USDL), and has chosen Argentina as its first market. Paxos’ Charles “Chad” Cascarilla noted that USDL offers a “truly risk-free” return. Users can currently earn around 5% returns on USDL, said Ronak Daya of Paxos.
United Arab Emirates-based Paxos International has launched Lift Dollar (USDL), a yield-generating stablecoin, and has chosen Argentina as its first market.
“USDL is issued permission-free on Ethereum and provides returns to token holders programmatically on a daily basis, subject to reserve assets that fully support the total value of USDL in circulation,” Paxos International said in a statement on Wednesday.
USDL is backed one-to-one by the US dollar, contains “only the highest quality liquid assets”, including US dollar deposits, short-term US Treasury bills and cash equivalents, and is regulated by the Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA). ) is regulated by Paxos International, he said.
With USDL, users can earn a “truly risk-free” return, Charles “Chad” Cascarilla, a board member of Paxos International and co-founder and CEO of Paxos, said in an interview with The Block. He noted that Paxos International is a “public entity” that only issues stablecoins, and said, “If something happens to Paxos, the assets will not be part of any bankruptcy process. They will be returned to investors immediately.”
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